The 2023 Governor’s Day Annual Bankers’ Dinner, organised by Chartered Institute of Bankers, Ghana (CIB Ghana), was characterised by optimism for the near and long-term prospects of the banking industry and the broader economy.

This year's event comes on the backdrop of what was in many ways a difficult year for banks but one that has witnessed a marked improvement leading to the end of the fiscal period. This year Governor’s Day celebration formed part of the Institute’s 60th Anniversary events.

CIB Ghana President, Benjamin Amenumey, in his address, acknowledged the resilience displayed during the tough times, expressing confidence in a continued rebound throughout the coming year. "No one would deny that it has been a tough year but the rebound has been remarkable and I believe it is safe to say this points to what we should expect in the coming year," he remarked.

Similar sentiments were expressed by the President of the Ghana Association of Banks (GAB), Mansa Nettey. “As an industry we have all had an extremely challenging year and we are so glad that we have done to the end of 2023. Thankfully we have turned the corner as banks, and we are already seeing some positive signs. We are looking forward to 2024 with a lot of confidence and hope,” she said.

Focus remains strong on ethics

While recognising external challenges persist, Chief Executive Officer at CIB Ghana, Robert Dzato emphasised the Institute’s commitment to aiding the industry in addressing internal issues, particularly ethics.

“The Institute will allocate significant resources in the medium term to focus on ethical considerations, a central theme highlighted in our annual conference, which this year was called the National Banking Ethics Conference,” he noted.

Mr. Dzato further highlighted the Institute's integration of technology, especially Artificial Intelligence, to enhance learning outcomes and drive innovation.

Bank of Ghana comments

In alignment with the positive sentiment, Bank of Ghana Governor Dr. Ernest Addison reassured attendees of the economy's upward trajectory, citing improvements in growth, declining inflation, and overall stability.

“Let me assure you that the economy is on a gradual rebound. Growth is improving steadily, inflation is declining, the fiscal and external positions are improving, alongside relative stability in the exchange rate.

Absent unanticipated shocks in the outlook, the continued implementation of prudent policies will further strengthen the recovery process and reinforce the disinflationary process. These conditions will improve the operating environment for the banking sector to remain stable and strong to support the economy,” he noted.

He pointed out the Bank's commitment to closely monitoring potential risks and taking decisive actions when necessary to maintain stability.

“This notwithstanding, let me use this opportunity to once again assure the public that, on the back of the DDEP and other risks that may emerge in the banking sector, the Bank will continue to closely monitor developments and, where need be, take appropriate and decisive actions to address same.

Also, the Bank will ensure that depositors’ funds remain safe, and that the financial system remains stable and resilient,” the Governor added.

Honours on the night

The night saw the acknowledgement of new Associates as well as three new Fellows of the Institute.

The Fellowship awardees were Sina Kamagate, a Chartered Banker and Chief Internal Auditor at GCB Bank PLC; Kwame Achindiba Abbey, a Chartered Banker and Deputy Managing Director, Support at Société Générale Ghana as well as Michael K. Kondor, another Chartered banker with over 17 years of work experience in the banking sector at Ecobank Ghana Plc where he serves as a branch manager.